Doctor Mortgage Program | Buy With 0% Down and No PMI

April 23, 2026
Aaron Clowes
Loan Programs

Doctor Mortgage Program: How Medical Professionals Can Buy a Home With Little to No Money Down

Most doctors assume buying a home means putting 20% down, paying private mortgage insurance (PMI), and fighting student loan debt ratios that make qualifying difficult.

With a Doctor Mortgage, that is not true.

There is a specialized mortgage option designed for certain medical professionals that may allow up to 100% financing, no PMI, flexible treatment of student loan obligations in certain scenarios, and loan amounts up to $2 million depending on qualifications.

This is often called a doctor mortgage program, physician loan, or medical professional mortgage.

And surprisingly, many eligible borrowers never hear about it.

Want to see if this could work for your situation? Schedule a free, no-hassle consultation at meetnewway.com, call or text 916-465-6639, or start a pre-approval at www.newwaymortgage.com/applynow.

What Is a Doctor Mortgage Program?

A doctor mortgage program is a home loan designed specifically for certain licensed medical professionals and, in some cases, residents or fellows.

Unlike traditional mortgages, these programs may offer:

Low or zero down payment options
No monthly PMI
Flexible debt-to-income calculations
Higher loan limits
Future income options using employment contracts
Special treatment of student loans for qualifying borrowers in residency or fellowship

The goal is simple:

To account for the fact that many physicians have strong earning potential but may have high student debt and limited savings early in their careers.

Who Qualifies for a Doctor Mortgage?

Eligibility depends on the lender and program, but this program includes:

Doctor of Medicine (MD)
Doctor of Osteopathic Medicine (DO)
Doctor of Dental Surgery (DDS)
Doctor of Dental Medicine (DMD)
Doctor of Pharmacy (PharmD)
Doctor of Veterinary Medicine (DVM or VMD)
Doctor of Podiatric Medicine (DPM)
Certified Registered Nurse Anesthetists (CRNAs)
Medical residents and fellows with eligible degrees

Who Is Not Eligible?

Not all healthcare professionals qualify.

Some professions may be excluded, including:

Registered Nurses (RNs)
Physician Assistants (PAs)
Most Nurse Practitioners (unless specifically CRNA-eligible)
Chiropractors
Psychologists
Optometrists
Physical Therapists

This is why having someone review your specific scenario matters.

Not sure if your profession qualifies? Talk or text 916-465-6639 and I’ll help you determine whether this program or another strategy may be a fit.

How Much Can You Put Down?

This is where people pay attention.

Option 1: Up to 100% Financing

Some borrowers may qualify with no down payment.

Examples in the program include:

100% financing to $1.5 million
100% financing to $2 million (with stronger credit profile)

That means you may be able to preserve cash rather than tie it up in a down payment.

Option 2: 95% Financing

Some scenarios may use 5% down with loan amounts up to $2 million.

No PMI — Why That Matters

This is one of the biggest benefits.

With a normal conventional loan, putting down less than 20% usually triggers PMI.

PMI can add hundreds per month.

Some doctor mortgage programs eliminate that entirely, even above 90% loan-to-value.

That can materially improve monthly cash flow.

Quick Example

Suppose PMI would otherwise cost $350 per month.

That’s:

$4,200 per year
$21,000 over 5 years

That is not trivial.

What About Student Loans?

This is often the biggest concern.

Can Student Loans Be Excluded?

In some cases, yes.

Borrowers currently in residency or fellowship may qualify to exclude student loan payments from the debt ratio if requirements are met.

That can be significant.

If They Can’t Be Excluded?

Traditional calculations may apply, which may include:

Documented payment amount
1% of outstanding balance
Fully amortized payment calculation

This is where loan structure matters.

If student loans are your biggest concern, let’s run a strategy review. Schedule at www.meetnewway.com or start a pre-approval at www.newwaymortgage.com/applynow.

Can You Qualify Before Starting Your Job?

Possibly.

One of the strongest features of many physician loan programs is projected income qualification.

If you have a signed employment contract, income may sometimes be used before your start date.

Some programs allow start dates up to 150 days after closing.

That may be useful for:

New attendings
Residents transitioning to practice
Relocating physicians

How Much Debt Can You Have?

Some scenarios allow debt-to-income ratios up to:

50% in some cases
45% for certain higher leverage or ARM structures

That can be materially more flexible than some borrowers expect.

Can Co-Borrowers Be Added?

Yes, but there is an important rule.

The medical professional generally must contribute at least 50% of total qualifying income.

That can affect how spouse or co-borrower income is used.

Property Rules You Should Know

This is not a free-for-all.

There are restrictions.

Typically Allowed

Primary residences
1-unit properties only

Generally Not Allowed

Investment properties
Second homes
2–4 units
Manufactured homes
Non-warrantable condos
Properties over 40 acres

Common Mistakes Doctors Make

Mistake #1: Going Straight to a Retail Bank

Not all lenders offer these programs.

And not all that do structure them well.

Mistake #2: Draining Cash for a Down Payment

Sometimes preserving liquidity may be the better move.

Mistake #3: Assuming Student Loans Mean “I Don’t Qualify”

Often false.

Mistake #4: Waiting Too Long

Many physicians delay buying unnecessarily.

Sometimes the better move is running the numbers early.

Before making a major decision, get a second opinion. Schedule a free consultation at meetnewway.com or talk/text 916-465-6639.

Is a Doctor Mortgage Always Better Than Conventional?

No.

Sometimes a standard conventional loan may win.

It depends on:

Rate differences
Fees
Down payment available
Long-term plans
PMI cost versus alternative structure
Break-even math

This is why comparing multiple scenarios matters.

A good analysis should show:

Doctor mortgage option
Conventional option
Total cost comparison
Break-even analysis

Final Thoughts

A doctor mortgage can be a powerful tool.

But it is not “free money.”

It is simply a specialized financing structure designed for a specific borrower profile.

Used correctly, it may help eligible medical professionals:

Buy sooner
Preserve cash
Avoid PMI
Work around student debt challenges
Access higher leverage responsibly

And for the right borrower, that can be significant.

Ready to Explore Your Options?

If you want help reviewing whether a physician loan makes sense—or whether a conventional option may be better—I’m happy to help.

Schedule a free, no-hassle consultation: www.meetnewway.com
Talk or text: 916-465-6639
Get pre-approved online: www.newwaymortgage.com/applynow

Frequently Asked Questions

Can doctors buy with no money down?

In some cases, yes. Some programs offer up to 100% financing, subject to credit, loan size, and guidelines.

Do doctor loans have PMI?

Some do not require PMI, even above 90% financing.

Can residents qualify for a mortgage?

Yes, certain residents and fellows may be eligible.

Can student loans be excluded?

Potentially, if you meet residency/fellowship criteria.

Are physician assistant loans eligible?

Not necessarily under this program. PAs may be excluded.